DOL makes loans less laborious.
| Position | United States. Department of Labor allows interest free loans |
The U.S. Department of Labor has removed the final obstacle to allowing interest-free loans to employee benefit plans facing a cash crunch.
The DOL finalized an amendment to omit a three-day repayment requirement from the interest-free, unsecured loans it permits for plans when the ability to pay benefits is in jeopardy. This allows the employer or other party to make an...
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